Samsung didn't invent the mobile phone - that honour goes to Motorola - but it took a transformative new technology and ran with it. "Innovation isn't just about doing something new. It can also be about doing something better," says Julian Birkinshaw, Professor of Strategy and Entrepreneurship at LBS and Academic Director, Deloitte Institute of Innovation and Entrepreneurship.Even when Samsung is in the news for the wrong reasons - the company has recalled the Galaxy Note 7 smartphones on safety grounds after some of the devices caught fire - its fortunes are expected to recover. "Samsung has drawn a line under this problem now. I expect the company to bounce back, just as Toyota did following its faulty accelerator issues five years ago."

This is a company after all that has been growing and innovating since 1938, when it started out as a food exporter shipping dried fish and flour from Korea to China. In the 1950s it got into life insurance and textiles. Samsung Electronics was founded in 1969. In the early 1990s Samsung started producing processors and hard drives for PCs, exporting them to companies including today's smartphone rivals Apple.

Samsung is the classic fast follower: they have attuned to what competitors are doing and what other people are bringing to market first. They watch like a hawk as others gain traction and then very rapidly come up with their own version.

Determine any SIX (6) strategies that Samsung had adopted as a "follower" for successfully reaching its target markets. Justify your answer with relevant examples.